Who has completed a lease purchase and fully owns truck with title?

I'm not going to argue. You run your business and I'll run mine. This thread is about those of us who have completed a lease purchase and received the title to their truck. Mine should arrive by the weekend. Those who want information about how I did it I will gladly share. I am not going to run my business to make you profitable, I know what I need to be profitable and I know the costs to accomplish my goals. If my numbers are less than yours then I guess you will have to compete on other things your business offers. This is not my first go round in business and I've learned a lot from my past experiences that have helped get me succeed to this point.

Let me pass along a nugget of a thought. The average American is carrying over $150,000 in debt. If the average apr of all that debt including credit cards is 10% the monthly interest payment on that debt is $1,200. That means you have to make $14,000 a year just to service the interest payments on your debt. I realize Keynesian economic theory is based on low savings and high consumption, but I can tell you from experience it is nice to have the cash set aside when those repairs come up. Nicer still is to not have payments hanging over your head for months afterward.

I've said all I have to say and am done.

 

If you have the discipline to save and can do it quickly, then you may not need credit. If you don't have credit or don't want to use credit then you need to have enough saved to take care of an in-frame, that will be your most expensive repair. It would be much better if you could save enough before buying a truck. If you plan on doing a lease purchase, you need to make sure that any major repairs will be covered under warranty. But, even if those costs are covered under warranty you will still lose revenue while the truck is in the shop. Those lease payments go on whether the truck is moving or sitting. This is where some lease operators start to get into trouble. If you take a week off or your truck is in the shop for a week, then your payments continue. That means that if your weekly payments are $900, that you will have $1,800 taken from your settlement the next week. That is before fuel or any other expenses are taken out. There are no free rides. You pay a very high price when you lease a truck.

 

Which by all accounts you are indeed living the american dream and are proudly proclaiming to all other truckers "you will lower yourselves to my standards or you can't compete with me."

 

The same can be said with someone buying their truck with bank financing... Payments don't stop either... When I bought my truck with bank financing, my payments didn't stop when I took time off, got sick, or when truck was in for repairs/maintenance...
With some leases, they do have a walk-away clause... Don't believe the banks offer that...

 

You pay a HIGH PRICE when you buy a truck as well many do not realize that when they condemn lease deals and no free rides as well

 

Your right. Congradulations on your title. Now stop running cheap!

 

You are correct about payments going on whether you lease or purchase. The difference is that when you do a lease purchase you usually have high weekly payments that have a mandatory maintenance contribution along with other costs. If you purchase, payments are normally made monthly and there are no mandatory weekly costs that must be paid. Payments are usually much lower when you purchase. When you purchase you have more flexibility. Having a monthly payment can be easier to manage than high weekly payments.

 

Comme si comme ca ... Weekly, monthly, it's cash flow management either way. Neither harder or easier, just different.

As for the maintenance contribution, not always mandatory and almost always mileage based. So if you're not running you're not paying.

 

I will be getting my title in the mail Thursday or Friday sooooooo excited

 

Congratulations